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      The contribution of the Black Sea Economic Co-operation organisation to regional development

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      Author
      Sayan, S.
      Date
      2002
      Source Title
      SEER : Journal for Labour and Social Affairs in Eastern Europe
      Print ISSN
      1435-2869
      Electronic ISSN
      1435-2869
      Publisher
      Nomos Verlagsgesellschaft
      Volume
      5
      Issue
      2
      Pages
      25 - 33
      Language
      English
      Type
      Article
      Item Usage Stats
      75
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      27
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      Abstract
      Prior to the disintegration in the late 1980s of the Soviet bloc and then the Soviet Union itself, most of the economies in eastern Europe were members of CMEA/COMECON (the Council of Mutual Economic Assistance) that was formed to divert trade away from the market economies in the west.1 The development, under Soviet planning, of strong input-output linkages between industries in different countries/republics led to a signifi- cant degree of complementarity between member economies. This complementarity successfully diverted trade away from non-members, facilitating the maintenance of high degrees of in-bloc self-sufficiency. The feasibility of barter trade between members also contributed to this process by helping these countries overcome their hard currency constraints (Gultekin and Mumcu, 1996). Following the collapse of the Soviet bloc and hence of CMEA, the ex-Soviet republics gained independence while the formerly so- cialist nations of eastern Europe became exposed to competition for global markets amongst the market economies. A considerable portion of trade in these markets was controlled by regional trade blocs. So, when Turkey - then perceived to be a regional power with a relatively well-functioning market economy - called for the formation of a regional economic co-operation zone between the countries around the Black Sea in 1990, Armenia, Azerbaijan, Bulgaria, Georgia, Moldova, Romania and Russia imme- diately responded by sending representatives to Ankara, Turkey to discuss the project.
      Keywords
      Regional development
      Black Sea Economic Cooperation
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      http://hdl.handle.net/11693/49500
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